Make an
impact today
Support loved ones to reach their goals.
Why give?
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One of the most impactful gifts you can give.
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Pave the way for a brighter future and greater opportunities.
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Buy less. Choose well. Make it last.
Beneficiary Accounts
Create accounts specifically for the intended beneficiaries.
Easy to set up, track contributions, and monitor growth.
Beneficiary Accounts
FAQs
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The person who takes the lead in setting up an account is known as the account owner.
They are the ones in charge of managing the account and making those important investment decisions that’ll affect the beneficiary, who’s the lucky one getting those funds.
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Pelican offers over 20 different account types. Choosing an account type usually comes down to ownership, control and time horizon.
A financial advisor can help you walk through your options to choose.
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When it comes to the beneficiary, having a single beneficiary opens up important conversations about savings goals, investment strategies, and expectations. It also allows for discussions about what happens if unexpected events occur. Some families opt for separate to better track savings for their individual needs. This can help monitor each account's growth and timelines effectively.
On the other hand, using a single plan for multiple beneficiaries can simplify things and reduce administrative tasks. However, it’s crucial to be clear about the allocation for each beneficiary.
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Now, here’s a helpful tidbit: many plans offer the flexibility to change the beneficiary to another eligible family member. Eligible family members often include siblings, parents, grandparents, aunts, uncles, and sometimes even first cousins. However, the exact definition may vary depending on the specific plan rules. So, it’s essential to double-check the details of your chosen plan.
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A gift tax is a federal tax applied to an individual who gives something of value to another person without receiving something of equal value in return. This can include money, property, or other assets. The gift tax is designed to prevent individuals from avoiding estate taxes by giving away their wealth before they pass away.
Key points to understand about gift tax:
Annual Exclusion: Each year, you can give up to a certain amount to any number of individuals without incurring a gift tax. For 2024, this amount is $17,000 per recipient.
Lifetime Exclusion: In addition to the annual exclusion, there is a lifetime exclusion amount that can be given away without incurring a gift tax. For 2024, the lifetime exclusion is $12.92 million.
Tax Responsibility: The responsibility for paying the gift tax typically falls on the donor, not the recipient.
Exemptions: Some gifts are exempt from the gift tax, including tuition or medical expenses paid directly to an educational or medical institution on behalf of someone else.
For more detailed information and advice regarding gift tax, it is recommended to consult with a tax professional or financial advisor.
Pelican Gifting
Create a personalized fund through the Pelican Invests app. Share your Pelican fund with family and friends to contribute towards specific events or milestones (e.g., birthdays, graduations).
Gifting
FAQs
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Pelican Gifting is a feature that allows family and friends to contribute to a loved one's education fund through beneficiary accounts, unique gifting links, and gift cards.
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The Pelican Invests app allows you to create a personalized fund. Unique gifting links are personalized URLs that you can share with family and friends, allowing them to contribute directly to a specific event or milestone, such as a birthday or graduation.
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After setting up a Pelican account, download the Pelican Invests app. Navigate to the "create a fund" section on your dashboard, select the event or goal, and generate a unique link to share with your network.
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Pelican strives to keep fees minimal. For payments with Google Pay, Apple Pay or credit card, we charge a 3% processing fee to offset the cost. Gifts made with ACH are always free.
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Yes, you can track all contributions made through gifting links in your Pelican App, where you'll see the total amount contributed and individual transactions.
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Yes, but we recommend to setup recurring contributions through ACH to avoid processing fees!
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Download the Pelican Invests app in the App Store and Google Play.
Gift Cards
Want to help a loved one but not sure where to start? Send a gift card to that can be redeemed towards future investments.
Gift Cards
FAQs
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We get it- being an account owner is a responsibility. For that reason, Pelican offers gift cards that can be purchased and given as gifts. The recipient can redeem these cards to jumpstart their future investments.
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To purchase a gift card, log into the Pelican Invests app, navigate to the "Gifts" section, and select the gift card option. Fill in the recipient details and the gift card will be sent to them directly.
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To redeem a gift card, download the Pelican Invests app, navigate to the "Gift" section, and select "Redeem Gift Card." There you need to enter the unique code provided in your email.
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If a gift card information is lost, please contact our support team at support@pelicaninvests.com. We will work with you to resolve the issue as quickly as possible.
“My Pelican fund with the picture of my son and the info about saving for his education got a strong positive reaction. I previously set up ESAs through a financial planner and never had this kind of moment.”
Andrew, Father of two
“Thank you for making it easy to gift to the education plan.”
Karuna, Mother of one
“I want to make sure my grandkids are setup for success.”
Donna, Grandmother of four
Download our Gifting App
Download our Gifting App
Download the Pelican Invests app to reach milestones faster with support from family and friends!